They used to trade $1,000 (face value) bags of 90% silver coins in New York. My old boss told a story about a client who exercised his right to take delivery on 2 bags of coins. his idea was to cull them for coins with numismatic value above their weight in silver.

Longer story short .. he got 2 bags of dimes worth their weight in silver. Period.

This story was told to me in the 80's as an old story. Though they still traded bags of silver coins in the 80's, I think they have pretty much gone by the wayside even though some dealers still market them looking for some sucker to pay the premium.

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